The move isn’t a surprise. Dutch Bros CEO Christine Barone has worked in Arizona since the company hired her in 2023, and the chain began moving many other corporate jobs there early last year.

Still, Dutch Bros’ exit is a symbolic blow in Oregon.

It’s the first large, homegrown company to emerge in the state for many generations. With a market capitalization of $11.8 billion, Dutch Bros trails only Nike among Oregon’s most valuable businesses.

“To support the next phase of Dutch Bros’ growth, we’re relocating additional roles to our new Phoenix office and making strategic changes to the structure of several teams,” Dutch Bros said in a written statement.

“Bringing more people together will allow us to better serve our customers and crews across the country,” the company said. “With these changes, the Phoenix office will become our official HQ.”